European biotechnology market is estimated to grow modestly, at a CAGR of 6.9%, during the forecast period. The European biotechnology industry was valued at $112 billion in 2019 and anticpated to grow significantly during the forecast period. The key driving factor of the market is the well-developed healthcare sector and considerably high healthcare expenditure and infrastructure in its economies such as Germany, UK, France, Romania, and Portugal, among others. Factors that are augmenting the market include increasing government funding in cell harvesting area, increasing R&D spending in cell-based R&D of 3D cell culture technology in the European region. Europe has made significant R&D investments in biotechnology mainly focused on the shift towards the use of live model systems for drug discovery and evaluation, use of animal-derived component-free media and reagents, and growing demand for advanced biologics and bio-similar produced by biopharmaceutical manufacturers.

Visit for Global Biotechnology Market Report at: https://www.omrglobal.com/industry-reports/biotechnology-market

European biotechnology market is classified on the basis of type. Based on type, the market is segmented into healthcare, crop production and agriculture, industrial, natural resources & environment, and others. Among these applications, biotechnology finds its significant application in healthcare in the study of genes. Many organizations are now involved in collecting, processing, distribution, and storage of human tissues to aid investigators in biomedical research.

Geographically, European biotechnology market is segmented into Germany, UK, France, Italy, Spain, and rest of Europe. Germany contributed the major share in the European biotechnology market. The growth is owing to the various healthcare facilities and well-developed healthcare infrastructure. UK and France have a world-class healthcare system providing a stable platform for the growth of the biotechnology market in the respective countries. Apart from the major European countries, Switzerland, the Netherlands, Denmark, Norway Ireland, Hungary, and Belgium are some other countries of Europe that are providing a significant contribution to the growth of the biotechnology market.

The companies which are contributing to the growth of the European biotechnology market include Amgen Inc., Novo Nordisk A/S, CSL Ltd., Bristol-Myers Squibb Co., AstraZeneca PLC, Merck & Co., Inc., Johnson & Johnson Services Inc., and Pfizer Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market. 

Research Methodology

The market study of the European biotechnology market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

The Report Covers

• Comprehensive research methodology of the European biotechnology market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European biotechnology market.
• Insights about market determinants which are stimulating the European biotechnology market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.